WALL Street Prep Course with CFA

I am working in Oil and gas Technical side which is usually 8 to 5 job, able to put average 2-3 hours on weekdays and some 10 hours on weekend for CFA Level 1 preparation.

Since, I am aiming ER or PE in oil and gas sector. I am thinking of doing
Premium Corporate Valuation and Financial Modeling Program from Wallstreet prep.

Would you recommend doing this course with CFA Level 1 (Dec 2012) Prep. Considering, I dont have a Finance background.

I am really interested in a course offer by BWIS on oil and gas modeling. But, its a advance modeling, so before that Like to do some thing basic


Oil & Gas Modeling teaches you how to value and model natural resource companies and how they're different from normal companies.

Everything is based on a case study of Exxon Mobil's $41 billion acquisition of XTO Energy – one of the largest energy M&A deals ever – and the entire program is integrated with real SEC filings and equity research from banks like JP Morgan, Credit Suisse, and Deutsche Bank.

You'll start with a crash-course on oil & gas accounting, production, and reserves, and then you'll get to create operating models for both Exxon Mobil and XTO based on their energy production levels.

After that, we'll jump into a full valuation of XTO including the Net Asset Value (NAV) model, before completing a detailed 3-statement merger model between Exxon Mobil and XTO and concluding with a hypothetical leveraged buyout model


Thanks

A

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Comments (8)

May 22, 2012 - 2:34pm

I would just dump the CFA. You can do that after you get the ER job. Most ER interviewers just boil down to three things:

1) Can you do that job? (Writing report + financial modeling.)
2) Are you interested in the sector?
3) Can I get along with you?

How to deal with each point?

1) Can you do that job?
Writing report: follow a sector, put together your own initiation report and quarterly earning report
Financial modeling: get an industry specific modeling course

2) Are you interested in the sector?
You already work in the industry so this is done.

3) Can I get along with you?
Study behavioral interview questions.

I am going to go against the tide and suggest you not going to take the CFA because it requires a lot of time and energy. At your stage, you want to devote your limited resources into 1) keeping your day job, 2) networking to secure interviews, 3) working on work samples to demonstrate that you are interested in the role and you can do the job.

Personally, I have been to interviews and even at my firm, we usually give out test that need to be submitted in a day. For the test, you have to build out a simple model (3 statement) including revenue tab and put together a quarterly earning report based on latest earning release. Or the company will give you the firm's model, which you will update (including future projections) based on the latest earning release, and put together a quarterly earning report.

Being able to do the job is more important than passing the CFA. Good luck.

"I am the hero of the story. I don't need to be saved."
May 23, 2012 - 11:53pm
Human:
I would just dump the CFA. You can do that after you get the ER job. Most ER interviewers just boil down to three things:

1) Can you do that job? (Writing report + financial modeling.)
2) Are you interested in the sector?
3) Can I get along with you?

How to deal with each point?

1) Can you do that job?
Writing report: follow a sector, put together your own initiation report and quarterly earning report
Financial modeling: get an industry specific modeling course

2) Are you interested in the sector?
You already work in the industry so this is done.

3) Can I get along with you?
Study behavioral interview questions.

I am going to go against the tide and suggest you not going to take the CFA because it requires a lot of time and energy. At your stage, you want to devote your limited resources into 1) keeping your day job, 2) networking to secure interviews, 3) working on work samples to demonstrate that you are interested in the role and you can do the job.

Personally, I have been to interviews and even at my firm, we usually give out test that need to be submitted in a day. For the test, you have to build out a simple model (3 statement) including revenue tab and put together a quarterly earning report based on latest earning release. Or the company will give you the firm's model, which you will update (including future projections) based on the latest earning release, and put together a quarterly earning report.

Being able to do the job is more important than passing the CFA. Good luck.

Which course you will recommend

  1. Wall street prep premium cost around 499$, as WSO user after 15% discount will be around 425$
  2. BIWS (Fundamental of excel and Modeling is 197 and oil and gas Modeling is 247 $)...Total=444$

Is Wall street prep certification worth ???

A

May 22, 2012 - 3:08pm

^^ agreed. Also depends on your background. If you went to a top 25 school you might not need to get the CFA. You will likely learn a lot more from the BIWS course than you will the CFA route. I found that besides the fin. reporting, equity sections, the rest of level one is memorizing formulas and concepts you will likely never use again. PM me about that BIWS course I may be able to help you.

Here's the thing. If you can't spot the sucker in the first half hour at the table, you are the sucker.
May 22, 2012 - 3:34pm

I recently networked with an associate in ER. He told me when looking for candidates, the CFA doesn't matter that much (Level I candidate vs Level II candidate makes no difference to them). He told me the most important thing is to network, and he stressed on networking with star analysts, get them to like you. I would suggest taking the course instead of studying for CFA, it requires too much time for too little value-add for your goals.

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May 24, 2012 - 12:26am

The premium is worth the added networking toolkit + interview guide

Here's the thing. If you can't spot the sucker in the first half hour at the table, you are the sucker.
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